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dc.contributor.authorGökmenoğlu, Korhan K.
dc.contributor.authorGüngör, Hasan
dc.contributor.authorBekun, Festus Victor
dc.date.accessioned2023-09-20T06:19:27Z
dc.date.available2023-09-20T06:19:27Z
dc.date.issued2021en_US
dc.identifier.issn1076-9307
dc.identifier.issn1099-1158
dc.identifier.urihttps://hdl.handle.net/11363/5565
dc.description.abstractThis paper utilizes panel methods to consider the dynamic relationship between oil and agricultural commodity prices. The study makes use of monthly measures realized data for six agricultural commodity prices, including cocoa, coffee, wheat, palm oil, soybeans, beef and crude oil. The dataset spans the period 2006–2015 and includes a measure for the effective exchange rate. The results of a panel unit root test suggest that all the variables are stationary after taking the first difference. The Fisher/Johansen cointegration test is then used to suggest that the dataset includes a single cointegrating vector. A regression on the long-run characteristics of the data is then used to show that crude oil prices are positively correlated to agricultural commodity prices. This suggests that oil price for the case of Nigeria drives demand for agricultural crop commodity. The results show that agricultural commodity prices in Nigeria are responsive to global oil prices. The subsequent causality test that account for heterogeneity tests performed on the first difference of the variables reject the null hypothesis of no Granger causality in either direction between crude oil prices and agricultural crop commodity. This suggests that oil prices drive agricultural commodity prices and vice versa. Based on these outcomes several policy directions were rendered in concluding section.en_US
dc.language.isoengen_US
dc.publisherWILEY, 111 RIVER ST, HOBOKEN 07030-5774, NJen_US
dc.relation.isversionof10.1002/ijfe.2083en_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectagricultural commodityen_US
dc.subjectNigeriaen_US
dc.subjectoil pricesen_US
dc.subjectpanel data econometricsen_US
dc.titleRevisiting the linkage between oil and agricultural commodity prices: Panel evidence from an Agrarian stateen_US
dc.typearticleen_US
dc.relation.ispartofInternational Journal of Finance and Economicsen_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.authoridhttps://orcid.org/0000-0002-2013-6867en_US
dc.authoridhttps://orcid.org/0000-0001-6971-1511en_US
dc.authoridhttps://orcid.org/0000-0003-4948-6905en_US
dc.identifier.volume26en_US
dc.identifier.issue4en_US
dc.identifier.startpage5610en_US
dc.identifier.endpage5620en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.contributor.institutionauthorBekun, Festus Victor


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